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If you own a business, you know the importance of managing your finances and maximizing your savings. A great way to achieve this is by using a business credit card that offers you rewards and benefits tailored to your growing business needs.
In this guide, we will explore the best business credit cards that offer maximum rewards and perks for business owners and entrepreneurs.
Using a business credit card can provide numerous benefits for small business owners and executives. Here are some of the main reasons why you should consider using a business credit card:
A business credit card can help you establish and build your business lines of credit. This is important for future financing and can help you qualify for better terms and rates on loans and other credit and financial products.
Using a business credit card lets you separate your personal and business expenses. This makes it easier to track your business expenses and can also simplify your tax filing process.
Many business credit cards provide customized rewards and advantages for business owners. These can include cashback, travel rewards, and discounts on business-related expenses.
Some business credit cards also offer access to business financing, such as lines of credit or small business loans. This can help manage cash flow and fund business expenses.
Now that you understand the benefits of using a business credit card, let's look at the top business credit cards that offer maximum rewards and benefits for business owners.
The Chase Ink Business Preferred Credit Card comes with a generous introductory offer of 100,000 bonus points when you spend $8,000 within the initial three months. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase TravelSM. Points are also worth 25% more when redeeming them through Chase TravelSM. It also provides 3 points per $1 spent on the first $150,000 spent in combined purchases for travel, shipping purchases, internet, cable and phone services, and advertising purchases. This card also offers a variety of travel benefits, such as trip cancellation insurance and primary rental car insurance.
The American Express Business Gold Card offers a welcome bonus to earn 70,000 membership rewards points after you spend $10,000 on eligible purchases in the first three months of card membership. It also offers 4 points per $1 dollar spent in the two spending categories where your business spends the most (on the first $150,000 in combined purchases each calendar year) and 1 point per $1 spent on all other purchases. Earn rewards points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card. This card also offers a variety of travel benefits, such as *baggage insurance, car rental loss and damage insurance with an ongoing variable APR of 19.49% to 28.49%.
With the Capital One Venture X Business card, you can earn unlimited 2X miles on every purchase. Also, it provides a 150,000 miles bonus after spending $30,000 in the first three months. This card also offers a variety of business travel benefits, such as skipping TSA PreCheck and Global Entry lines and a $300 annual travel credit booking through Capital One Travel.
The Bank of America Business Advantage Cash Rewards Mastercard offers a $300 statement credit after spending $3,000 in the first three months. It also offers 3% cashback on your choice of one of six categories, 2% cashback on dining, and 1% cash back on all other purchases. This card also offers a 0% introductory purchase APR for the first nine billing cycles.
The American Express Blue Business Cash Card offers a welcome bonus of a $250 statement credit after you make $3,000 in purchases on your card in your first three months. It also offers 2% cash back on the first $50,000 eligible purchases each calendar year, then 1% cash back. This card also offers a 0% introductory APR on purchases for the first 12 months and after that, will be a variable APR of 18.49%-26.49% (see rates and fees).
With so many options available, choosing the right business credit card for your needs can be overwhelming. Here are some factors to consider when making your decision:
Consider what type of rewards program would benefit your business the most. Do you want cashback, travel rewards, or discounts on business expenses? Look for a card that offers rewards in line with your business’s spending habits.
Some business credit cards come with an annual fee, while others do not. Consider whether the card's rewards and benefits outweigh the cost of the yearly fee.
If you plan on carrying a balance on your credit card, consider the interest rates and fees associated with each card. Look for a card with a low APR and no or low balance transfer fees.
Consider each card's credit limit and whether it aligns with your business’s spending needs. You don’t want to be limited by a low credit limit, but you also don’t want to have a high credit limit that you won’t be able to pay off.
A business credit card can provide numerous benefits for business owners, including building business credit, separating personal and business expenses, and earning rewards and benefits. By choosing one of the top business credit cards for maximum rewards, you can build your savings and streamline your business expenses. Consider your business needs and spending habits to determine which card best fits you and your business.
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or endorsed by any of the entities included in the post.
*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
